How much could you save by consolidating your debt with our low interest rate?

you could save †

†Over the full term of the loan you could save this amount on interest.

This example is calculated on a loan with full repayment made over a 3 year period at an interest rate of [interest-rate]% p.a. Total repayments over the term of the loan would be [total-repayments] (indicative only). Weekly repayments are indicative only. Normal lending criteria and conditions apply. An approval fee of $250 plus other third party service charges may apply. This calculation is intended as a guide only and is not an offer of finance from NZCU Baywide. All interest rates and fees quoted are subject to change. View a full list of rates and fees.

What is unsecured finance?

Unsecured loans are a more expensive, but less risky form of personal loan for a borrower. Whereas with a secured loan you are required to provide an asset to use as collateral to secure the loan, no collateral is required for an unsecured loan. However, the trade-off for not having to use collateral for your loan are slightly higher interest rates and the amount you can borrow is usually lower.

The criteria for unsecured finance is stricter and we will need to look a range of things including your affordability, job history, credit score and how much you're wanting to borrow. Similar to secured loans an unsecured loan can be used for just about anything, a holiday, home improvements, weddings, special events and much more. Interest rates for our unsecured loans are some of the lowest in New Zealand, starting from 11.9% per annum*.

If you want to apply for a loan, use our free online loan application form or call 0800 229 943 to speak with one our friendly team today. At NZCU Baywide we don’t just focus on how the numbers look on paper, we listen to your story to help you save.

Helpful Guides and Information

Applying for unsecured finance? Our guides will help you through the process.

As it turns out, there’s a big difference between unsecured and secured personal loans. The former can be easier to get, especially if you carry a poor credit rating. They also come with a higher interest rate, and a smaller cap.

The latter, meanwhile, uses some form of collateral as security, be it a boat or a vehicle, to obtain a larger loan amount that’s charged at a lower interest rate. If the loan goes unpaid, however, then you’re liable to lose the property that you used as security.

There’s more to secured and unsecured loans than this, so keep reading to find out more about these two types of loan, and which one is right for you.

*Credit Union Baywide trading as NZCU Baywide. Terms and conditions and normal lending criteria apply. A $500 approval fee and other fees apply for home lending. A $250 approval fee and other fees apply for personal lending. All variable rates, fees and returns are subject to change without notice. The current Product Disclosure Statement and other disclosure statements are available here or on request from the Credit Union. NZCU Baywide savings are shares secured by a first ranking security over NZCU Baywide's assets. Click here to view our rates and fees. The CANSTAR 5 Star Rating was awarded in December 2017 to NZCU Baywide for Orange Personal Loans and in June 2017 for our Online Saver account.